Our Lite account is designed to work online and save on fees. There are no monthly fees, and no fees for standard transactions within New Zealand. You can make unlimited in-store, online or over the phone transactions, internet banking payments, direct debits and ATM withdrawals.
This account isn't designed for long-term savings, so it doesn't pay you interest on your credit balances — but it pairs up nicely with a free i-Save Account.
Features
- No monthly account fee.
- Free internet and mobile banking.
- Works with Internet Banking, the SBS Mobile app, our phone teams and in branch.
- You can add an SBS Debit Mastercard® with no annual fee to buy online, overseas and in stores, using your Lite account funds.
- Unlimited electronic transactions, including EFTPOS purchases, internet banking payments, direct debits and ATM withdrawals.
- No fees for in-store, online, direct credits or over-the-phone transactions with an SBS Debit Mastercard® OR EFTPOS card.
- Depending on how you use your account, some other fees may apply. See our Account Fees and Charges for full details.
- Statements are available online. There is a charge for printing and posting you a paper statement.
The SBS Classic account – just right for classic banking.
Our Classic account can be linked to your home loan, and is the account we draw on for your repayments. When you have an SBS home loan or a balance of over $5,000 you get 20 free withdrawals per month. After that, we charge 45c for all subsequent withdrawals.
The Classic account doesn't earn interest. It's a good option for your home loan repayments, or if you prefer banking in person rather than online.
Features
- No monthly account fee.
- Free internet and mobile banking.
- Works with Internet Banking, the SBS Mobile app, our phone teams and in branch.
- You can add an SBS Debit Mastercard® with no annual fee to buy online, overseas and in stores using your Classic account funds.
- If you have an SBS home loan or a minimum monthly balance of $5,000 your first 20 withdrawals are free. These include EFTPOS purchases, internet banking payments, direct debits, cash withdrawals made over the counter at an SBS branch and ATM withdrawals. They also include in-store, online, direct credit and over-the-phone purchases with an SBS Debit Mastercard.
- If you are under 18 or over 65, all of your withdrawals are free.
- Non-exempt customer-initiated withdrawals are 45c each.
- Depending on how you use your account, some other fees may apply. See our Account Fees and Charges for full details.
- Statements are available online. There is a charge for printing and posting you a paper statement.
How our two transactional accounts compare.
| Feature | Lite | Classic |
| Monthly fee | None | None |
| Fee for electronic withdrawal (EFTPOS, direct debit, ATM, automatic payment, online) | None | $0.45 (with exemptions*) |
| Fee for an over-the-counter withdrawal or transfer at an SBS Branch | $1.00 | $0.45 (with exemptions*) |
| Can use with Internet Banking and the SBS Mobile app | Yes | Yes |
| Can use with EFTPOS card | Yes | Yes |
| Can use with SBS Debit Mastercard | Yes | Yes |
| Can be used for automatic home loan repayments | No | Yes |
| Adding, deleting or editing an automatic payment or direct debit with staff assistance | $1.00 | Free |
| Duplicate or additional printed statements | $2.50 | $2.50 |
* If you have an SBS home loan or a minimum monthly balance of $5,000 the first 20 transactions per month are free. You may also be exempt if you are under 18 or over 65.
Important information for the SBS Lite and SBS Classic accounts.
- Currency conversion charges apply to international transactions including some online retailers.
- Some additional fees and charges apply. See our Account Fees and Charges for more information.
- Account opening and card eligibility criteria, Fees and Charges, Debit Mastercard Card, Electronic Banking and General Terms and Conditions apply.